News

The Finnish Transport Agency has entered into a EUR 623 million PPP agreement regarding the E18 Koskenkylä–Kotka Motorway - Hannes Snellman legal counsel to FTA

9 December 2011

The Finnish Transport Agency (FTA) has on 8 December 2011 entered into a Public-Private Partnership (PPP) agreement with Tieyhtiö Valtatie 7 Oy relating to the construction and maintenance of the 53-kilometre E18 Koskenkylä–Kotka motorway. The total value of the agreement is EUR 623 million. The construction works are planned to be completed in 2015. The maintenance period included in the project will continue until 2026.

Tieyhtiö Valtatie 7 Oy is owned by Meridiam Infrastructure Projects S.á.r.l, Ilmarinen Mutual Pension Insurance Company, YIT and Destia. Construction works on the road has begun, and is estimated to be completed in 2015. The maintenance of the motorway will also be carried out by Tieyhtiö Valtatie 7 Oy, until 2026. The European Investment Bank, the Nordic Investment Bank and Pohjola Bank plc are the banks financing the project.

Hannes Snellman acted as legal counsel to FTA. Hannes Snellman’s team in the project consisted of Rabbe Sittnikow, Olli-Pekka Veranen, Maria Lassenius and Mika Pohjonen. Financial advice to the FTA was provided by Inspira, a financial advisory firm owned by Municipality Finance Plc.

For additional information, please contact:

Rabbe Sittnikow, Partner, +358 9 2288 4343, rabbe.sittnikow@hannessnellman.com